UK plant-based meat company THIS™ has closed its Seedrs crowdfunding campaign, which was publicly live for less than three days, before hitting its £4m stretch target.
Venture capital firms involved in the round include Backed, Five Seasons Ventures, Idinvest Partners, Seedcamp and Manta Ray Ventures, alongside footballer Chris Smalling.
Andy Shovel and Pete Sharman THIS™ co-founders commented: “After three or more weeks of not sleeping because we thought no one would invest – we broke loads of records on Seedrs! We were publicly live for all of two days, before we hit our £4m overfunding limit. We haven’t clicked refresh that often since our online dating days.”
On a mission to shatter meat-eaters’ preconceptions of plant-based food, one rasher or nugget at a time, vegan investment fund Veg Capital has also invested in the latest Seedrs campaign. The THIS™ Seedrs campaign is also the fastest FMCG business to hit target ever and fastest ever campaign to hit £1.5m+.
Andre de Haes, Founder of Backed VC stated: “THIS is capitalising on the most important trend in nutrition: strong demand for tasty plant-based meat alternatives, for all those who are increasingly conscious about the detrimental health, climate change and animal welfare impacts of mass meat production.
“This macro trend alone doesn’t explain THIS’s success; it is unprecedented to see a startup food product achieve widespread supermarket distribution right after launching. The team at THIS blend executional hyper-efficiency with both ground-breaking R&D and innovative marketing. THIS’s achievement as the fastest campaign in Seedrs history for a round above £1.5m is well deserved.”
Chris Smalling, Professional footballer & Co-Founder of ForGood added: “I’ve been really impressed with what Andy & Pete have achieved in such a short time. They’ve created a killer brand with amazing products. I am thrilled to be part of their journey.”